Father, James, founded specialist firm that became Spear, Leeds & Kellogg. New Jersey native went to work at father's firm early 1970s; turned outfit into dominant marketmaker. Spear Leeds was first specialist to control more than 10% of stocks trading on Big Board 1992. Engineered sale to Goldman Sachs for $6.5 billion 2000. Plowed proceeds into reinsurance outfit IAT. Firm owns large stakes in TRC (environmental engineering), Chattem (over-the-counter health products).